*ST Hailong Bankruptcy Reorganization And Its Performance Research

The bankruptcy reorganization first appeared in the legal provisions of our country in June 2007.Since the introduction of the new bankruptcy law,it has helped the more and more listed companies in the country to carry out the reorganization and gain new life,and gradually become the most important means for the implementation of the self-rescue of China's endangered listed companies.The bankruptcy and reorganization system breaks through the traditional bankruptcy liquidation theory,and most of the companies that have undergone bankruptcy and restructuring have redeveloped well.Bankruptcy and reorganization is also called bankruptcy protection.It can prevent debtors in distress from directly entering bankruptcy and liquidation.It gives the debtor an opportunity to carry out corporate restructuring and debt adjustment,actively get rid of financial distress,come back to life,and continue to create value.However,opportunities and challenges coexist.Although most listed companies quickly turn deficits into profits through bankruptcy and restructuring,due to the different ways in which reforms are implemented,various environmental factors have different effects on reorganization,leading to different effects of reformation completion.Many reformed companies have not quickly recovered their ability to continue operating and gaining profits.Instead of ushering in the expected inflection point,it is deeply plunged into another quagmire.This article uses a combination of literature review and case analysis methods to find out how can make the endangered enterprise revive through the implementation of bankruptcy and reorganization,and how to protect the interests of all classes through restructuring with the help of the bankruptcy reorganization of the case company *ST Hailong.At last,the Financial Index Method and Events Research are used to evaluate the company's financial performance and market performance after restructuring.The full text is divided into five parts.The first part introduces the research background and significance of the study,expounds the current status of bankruptcy reorganization andperformance research at home and abroad,introduces the research content of this paper,the research methods to be used,and puts forward the innovation of this research.The second part is the theoretical basis of this study,which elaborates the theory of bankruptcy reorganization and performance,and provides theoretical support for the follow-up of the article.In the third part,the whole incident of the bankruptcy and restructuring of the case*ST Hailong was introduced,including the overview of *ST Hailong Company,the reasons for falling into a financial dilemma,the process of reorganization,and the reorganization plan.The fourth part mainly analyzes the performance of *ST Hailong's bankruptcy and reorganization,including financial performance and market performance,and summarizes the results of performance analysis.In the fifth part,according to the previous research,we conclude that the bankruptcy and reorganization can help the company rejuvenate,improve its operating capability,and improve its performance.Then summarize the successful experience of *ST Hailong reorganization,and explore its experience for the implementation of bankruptcy reorganization of other similar enterprises.This study is based on the future research trend of bankruptcy reorganization,select *ST Hailong bankruptcy reorganization of listed companies as a case study object,analyzing the case of bankruptcy reorganization and performance,in the hope of bankruptcy reorganization of listed companies in our country theory development and case practice for reference.